Commodity Prices- Food Prices
Neil Irwin reported in today’s Washington Post that, “Financial markets are frazzled, and the jobs situation is getting worse. But there is a surprising bit of good news for the economy in the months ahead.
“Prices for global commodities — oil, of course, but also a variety of metals, agricultural products and other raw materials — have been falling steadily since mid-July, after reaching record highs. Prices are still elevated, pinching consumers and businesses alike. But these modest declines should offer some relief to stretched American pocketbooks in the months ahead and help reverse some of the steep rise in inflation that occurred in the spring and early summer.”